25-30 million lost jobs in MSMEs, 10-15 million jobs on the verge
The survey also highlighted that another 10-15 million jobs may be lost by the end of August.
Parul July 31, 2020
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The micro, small and medium enterprises (MSMEs) are the backbone of the Indian economy. The MSME sector has been severely affected by the lockdown in wake of the novel coronavirus pandemic which has led to job loss.
A survey on micro, small, and medium enterprises conducted by SKOCH Group in collaboration with Federation of Indian Micro, Small and Medium Enterprises; Bhartiya Vitta Salahkar Samiti, and Tax Law Educare Society showed that estimated 25-30 million people lost jobs by the end of June.
Almost half of the micro and small firms have also stated in another study that the impact of Covid-19 on earnings was between 20-50 per cent which is leading to job cuts.